Pembina Pipeline (PPL) Investor presentation summary

Strategic growth and value creation

• Pursuing a 3Cs strategy: Capture premier resource plays, Connect core commodities to coastlines, and Catalyze new demand platforms in key markets.

• Integrated value chain across all hydrocarbon products, leveraging scale and market access for customer value.

• Targeting 5-7% fee-based adjusted EBITDA per share CAGR through 2030, supported by visible growth projects.

• Business model underpinned by long-term, predominantly take-or-pay contracts, reducing risk.

• Track record of on-time, on-budget project execution, with over $6 billion in major projects delivered since 2017.

Asset base and operational highlights

• Extensive pipeline, gas processing, fractionation, storage, and export facilities strategically located across Western Canada and the U.S.

• ~3.0 mmbpd hydrocarbon transportation capacity and ~10 mmbbl above-ground storage.

• Largest third-party gas processor in Canada, with ~6.8 bcf/d gas processing capacity and 485 mbpd fractionation capacity.

• Superior service offering across natural gas, NGL, condensate, and crude oil, with unmatched reach and flexibility.

• Marketing business enhances infrastructure value and provides strategic hedging.

Major projects and growth initiatives

• ~$5 billion of projects under construction, including Cedar LNG, Greenlight Electricity Centre, and Heartland Extraction Plant.

• Cedar LNG project on track for late 2028 in-service, with over 80% of costs committed and a 70% EPC lump sum agreement.

• Greenlight Electricity Centre to deliver ~932MW of gas-fired power for data centers, underpinned by a 20-year agreement with Meta.

• Heartland Extraction Plant to supply Dow’s Path2Zero project with ethane, supporting Alberta’s petrochemical growth.

• Clearwater formation and Nipisi Pipeline expansions driving volume and EBITDA growth.